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Today Stock News – 13.07.2018

Today Stock News – 13.07.2018


* ADANI GREEN ENERGY: Wholly-owned subsidiary Mahoba Solar (UP) has won tenders for  setting up 300MW solar generation projects.

* ALLAHABAD BANK: The bank is planning to sell its non-core assets, including divestment of its stake in joint ventures and associates, and also some immovable properties, as part of the government's reform agenda for state-run banks.

* ASHOK LEYLAND: Introduced eN-Dhan fuel card in partnership with HINDUSTAN PETROLEUM CORP's DriveTrack Plus programme.

* AVANTI FEEDS: Thai Union Group is committed to maintain its shareholding in the company between 20% and 25%.

* BANK OF BARODA: Managing Director and Chief Executive Officer P.S. Jayakumar made it clear that he is not in the race for the post of AXIS BANK MD and CEO.

* BETA DRUGS: Received good manufacturing practices certification from the Philippines for its oncology products manufacturing facility in Baddi, Himachal Pradesh.

* CAPTAIN POLYPLAST: Company's board will meet on Jul 28 to mull stock split.

* COFFEE DAY ENTERPRISES: ICICI Lombard General Insurance Co has sold 1.77 mln shares or 0.8% stake in the comapny at 270 rupees per share through a bulk deal on the National Stock Exchange.

* CYIENT: The board has approved the merger of wholly-owned subsidiary Cyient Insights with the company.

* DALMIA BHARAT: Kalyanpur Cements allotted 150 mln shares worth 1.50 bln rupees to the  company, asper the insolvency resolution plan approved by the National Company Law Tribunal.

* ELECTROSTEEL CASTINGS: The board has approved raising up to 1.4 bln rupees through the issuance of 48.53 mln shares on a preferential basis, at an issue price of 28.85 rupees per share.

* FORTIS HEALTHCARE: Board has approved the offer of IHH Healthcare Berhad for equity infusion of 40 bln rupees into the company at 170 rupees a share.

* GAYATRI PROJECTS: Goldman Sachs Singapore has bought 2.5 mln shares or 1.3% stake in the company at 180 rupees apiece, through a bulk deal on the BSE.

* GOODLUCK INDIA: Has commissioned its manufacturing facility at Kutch in Gujarat, and started
commercial production from Wednesday.

* HCL TECHNOLOGIES: Board has approved buyback of up to 36.4 mln shares or 2.6% stake in the company at 1,100 rupees apiece.

* HINDUSTAN CONSTRUCTION CO: Expressed its inability to give any time period to shareholders at its annual general meeting, for the resolution of its yet-to-be completed hill city, Lavasa.

* HINDUSTAN PETROLEUM CORP: To automate all its pumping stations by December.

* HOUSING AND URBAN DEVELOPMENT CORP: As of Jun 30, the company sanctioned cumulative loans of 40.72 bln rupees and disbursed loans of 13.05 bln rupees.

* HOUSING DEVELOPMENT FINANCE CORP: Has taken RHC Holding, a holding company of Malvinder Singh and Shivinder Singh, to bankruptcy court to recover outstanding dues worth 411 mln rupees.

* HUBTOWN: Board has approved a proposal for issuance of up to 30.9 mln warrants to promoters on preferential basis.

* IDBI BANK: A section of the bank's officers have proposed to go on strike from Jul 16-21. Board of directors of Life Insurance Corp of India is likely to meet next week to approve the proposal to buy up to 40% stake in the bank.

* IDEA CELLULAR: Looking at the option of moving the Telecom Disputes Settlement and Appellate Tribunal against the government following a steep demand notice issued by the telecom department while giving conditional clearance to its merger with Vodafone India.

* IDFC: Investment arm IDFC Alternatives is planning to club its platform investments in the infrastructure space under one umbrella to ensure smooth exit for its investors.

* INTERGLOBE AVIATION: Two aircraft of the company-run IndiGo averted a mid-air collision over Bengaluru on Tuesday.

* LEMON TREE HOTELS: Expects average room rates to improve further on the back of higher occupancy, hikes in room rentals, growth in domestic travel, and a modest fall in room supply in India.

* MONNET ISPAT & ENERGY: NCLT has directed JSW STEEL and AION Capital, which have submitted a resolution plan for the company, to provide some relief to small operational creditors of the company.

* NATH BIO-GENES INDIA: Goldman Sachs Singapore Pte has bought 500,000 shares or 2.6% stake in the company at 480 rupees per share through a bulk deal on BSE.

* PUNJAB NATIONAL BANK: A "comprehensive" review of the bank's audit system is being undertaken by Pune-based National Institute of Banking and Management, the bank said in its annual report for 2017-18.
 -The committee on bad loan resolution, led by the Chairman Sunil Mehta, has suggested a live auction mechanism to help banks free up security receipts worth 900 bln rupees in their investment books that can used to revive credit growth.
 -An appeal by the corporate affairs ministry to freeze assets of independent directors in the companies of Nirav Modi and Mehul Choksi was upheld by the National Company Law Appellate Tribunal on Thursday.

* PURAVANKARA: Subsidiary Provident Housing announced the integration of artificial intelligence in its business, by introducing two robots--Mitra and Mitri.

* RELIANCE COMMUNICATIONS: The Department of Telecommunications has rejected a complaint by the company of unfair treatment with regard to Vodafone in the matter of one-time spectrum charges on grounds that the two cases were different.

* RELIANCE INDUSTRIES: Reclaimed market capitalisation of $100 bln on Thursday, a decade after it became the first Indian company to reach that milestone, as investors were optimistic of strong earnings from petrochemicals operations and prospects of growth in the telecom vertical.
 The combine of the company and JM Financial Asset Reconstruction Co have submitted a letter of intent to acquire ALOK INDSUTRIES.

* STATE BANK OF INDIA: Had fully provided for its exposure to Topworth Group, and as such, the financial impact of a fraud had already been factored in.

* TATA COMMUNICATIONS: NCLT has approved a scheme which will clear the way to demerge surplus land of nearly 773 acres from the company, earlier known as Videsh Sanchar Nigam, into Hemisphere Properties India, a decision which is another step towards settling a 16-year old matter.

* TATA MOTORS: The company has lost a sizeable order from cab aggregators Ola and Uber as the group's former chairman, Cyrus Mistry, and group patriarch Ratan Tata fought a bitter battle.

* TATA STEEL: Looking to sell some of its businesses in southeast Asia as part of its strategy to exit nonscalable businesses and turn its focus to the domestic market.

* THEMIS MEDICARE: The Food and Drug Administration has ordered the company not to manufacture a key product till the matter is decided.

* TRIGYN TECHNOLOGIES: Has signed a memorandum of understanding with Intamin Transportation at Schaan, Liechtenstein. The company's consortium with ESDS Software Solutions has entered into an agreement to build and operate a data centre for Software Technology Park of India at Electronic City in Bengaluru.

* VARROC ENGINEERING: The board of wholly-owned step-down subsidiary Varroc Lighting Systems Inc has approved setting up of new facilities in Chennai and Poland for manufacturing exterior lighting components.

* VAKRANGEE: Tied up with Reliance Nippon Life Asset Management Co for distribution of mutual fund products in India.